Greenwood SC Real Estate Update for Buyers

Currently cash buyers are flooding some real estate markets in record numbers to take advantage of current prices. These cash buyers can sometimes put buyers who need financing at a disadvantage. Sellers often prefer cash deals because it can mean faster closings and transactions that are less likely to fall through. Some sellers in the Greenwood real estate market are accepting lower offers because they are cash rather than higher offers from a financing buyer just because they view it as a more solid deal that will be quicker to the closing table. What’s a conventional buyer to do? Here are a few tips-

• Get pre-approved for a home loan. The smartest thing you can do is make sure you talk to a competent (preferably local) lender to get pre-approved. Local lenders know the market and they have face to face interaction with Greenwood Realtors who they depend on for future business. They have more “at stake” than lenders who work with thousands of buyers nationwide. Contact me for a list of knowledgeable, reputable, local lenders in the Greenwood real estate market. Getting pre-approved takes about 10 minutes and can be done on the phone many times.

• Show your sincerity and that you’re in good standing. You’ll improve your chances of getting a seller to pay attention to your offer and take it seriously by putting down a reasonable amount of earnest deposit. The more deposit you’re willing to put down, shows you have a stable job, cash on hand and along with the pre-approval-good credit.

• Act quickly!  Cash buyers have the ability and tend to act quickly. To compete, you have to act quickly once you’ve decided which property suits your needs.

Keep in mind that some sellers may be highly motivated and willing to accept a cash offer, even if it’s lower than others, while sellers with more equity in their homes may be willing to wait for the highest and best offer. It all depends on the sellers current circumstances and their motivation to sell.

Greenwood Real Estate Success

Real estate is local! For details on Greenwood SC homes for sale, browse my website, use my convenient MLS Search tools, or contact me for first rate service!